Teaching kids about saving?

By hiveup,

We used to live in a simpler time, where life’s little milestones (marriage, buying a house, having kids etc.) was a commonality amongst the majority of the population. In the last 20 years or so, we have seen the rise of a generation of ambitious, liberal, individuals colloquially now known as the millennials. Combining this with the severity of housing, food and healthcare inflation, especially in contrast to income inflation, just highlights the importance of ensuring you have adequate savings for you and your kids.

‘Practice what you preach’, a fairly common idiom, but it’s a remarkably effective one as leading by example can be the best way to show your children the power of saving. The following are basic strategies that can be easily integrated into any lifestyle.